Principal Financial Group Inc. Sells 14,142 Shares of GoDaddy Inc. $GDDY

Principal Financial Group Inc. cut its holdings in GoDaddy Inc. (NYSE:GDDY) by 7.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 178,769 shares of the technology company’s stock after selling 14,142 shares during the quarter. Principal Financial Group Inc.’s holdings in GoDaddy were worth $24,461,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Thrivent Financial for Lutherans raised its holdings in shares of GoDaddy by 11.9% during the third quarter. Thrivent Financial for Lutherans now owns 12,715 shares of the technology company’s stock valued at $1,740,000 after purchasing an additional 1,356 shares during the period. National Pension Service raised its stake in GoDaddy by 6.3% during the 3rd quarter. National Pension Service now owns 288,941 shares of the technology company’s stock worth $39,536,000 after buying an additional 17,032 shares during the period. AlphaQuest LLC lifted its holdings in shares of GoDaddy by 29.1% in the 3rd quarter. AlphaQuest LLC now owns 11,302 shares of the technology company’s stock worth $1,546,000 after purchasing an additional 2,546 shares in the last quarter. Arizona State Retirement System grew its position in GoDaddy by 1.6% in the 3rd quarter. Arizona State Retirement System now owns 41,962 shares of the technology company’s stock valued at $5,742,000 after purchasing an additional 646 shares during the period. Finally, Summit Global Investments increased its stake in GoDaddy by 0.9% during the 3rd quarter. Summit Global Investments now owns 27,538 shares of the technology company’s stock valued at $3,768,000 after purchasing an additional 246 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 6,932 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total transaction of $886,880.08. Following the completion of the transaction, the chief executive officer owned 399,133 shares of the company’s stock, valued at approximately $51,065,076.02. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Mccaffrey sold 3,317 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total transaction of $424,376.98. Following the transaction, the chief financial officer owned 66,816 shares of the company’s stock, valued at $8,548,439.04. This trade represents a 4.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,615 shares of company stock valued at $1,743,102 in the last 90 days. 0.70% of the stock is currently owned by company insiders.

GoDaddy Price Performance

NYSE GDDY opened at $97.38 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 41.06. The company has a market cap of $13.16 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 0.88 and a beta of 0.94. GoDaddy Inc. has a 52 week low of $92.22 and a 52 week high of $214.32. The firm’s 50-day simple moving average is $116.06 and its two-hundred day simple moving average is $131.74.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GDDY. Morgan Stanley lowered their target price on shares of GoDaddy from $159.00 to $145.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. Citigroup cut their target price on GoDaddy from $214.00 to $195.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Benchmark reiterated a “buy” rating on shares of GoDaddy in a report on Thursday, December 4th. UBS Group decreased their price objective on shares of GoDaddy from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of GoDaddy in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $166.21.

About GoDaddy

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.